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Hi folks, new to this thread. William, do have any opinion on the $500 million convertible?
~~~Thursday March 16, 7:01 am Eastern Time
Company Press Release
Redback Networks Inc. Announces $500 Million Private Convertible Debt Offering
SUNNYVALE, Calif.--(BUSINESS WIRE)--March 16, 2000--Redback Networks, Inc., (Nasdaq:RBAK - news), a leading provider of advanced networking solutions, today announced its intention to issue $500 million aggregate principal amount of Convertible Subordinated Notes due 2007, in a private placement pursuant to Rule 144A under the Securities Act. These securities have not been registered under the Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
Redback expects the net proceeds of this offering will be used for working capital and general corporate purposes, including financing growth, product development and capital expenditures. Redback may also use a portion of the net proceeds to fund investments in and acquisitions of businesses, partnerships, products or technologies that complement or expand its business.
About Redback Networks, Inc.
Founded in 1996 and headquartered in Sunnyvale, Calif., Redback Networks, Inc., is a leading provider of advanced networking solutions that enable carriers, cable operators, and service providers to rapidly deploy broadband access and services. The company's market-leading Subscriber Management Systems(tm) (SMSs) connect and manage large numbers of subscribers using any of the major broadband access technologies such as Digital Subscriber Line (DSL), cable, and wireless. To deliver integrated transport solutions for metropolitan optical networks, Redback's SmartEdge(tm) multi-service platforms leverage powerful advances in application-specific integrated circuit (ASIC), IP, and optical technology. With this product portfolio, Redback Networks is the first equipment supplier focused exclusively on developing integrated solutions for the New Access Network.
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